PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

Oct 27th, 2010: XLF Chart

Posted by pugsma on October 27, 2010

11:20 pm EST:  This afternoon I promised to take a quick look at the chart of XLF, financial ETF.  It looks like a wave 4 consolidation triangle has formed and it’s just about ready to break-out to the upside.  The triangle measures 0.80 points and would target the 15.80 area (+5.5%).  So for those trading FAS you could get a +16.5% gain or if you have FAZ a -16.5% loss.

Also, if the XLF breaks–out, this same +5.5% would be good for 65 points on the SP-500 and take it to 1244.  So it fits with my overall SP-500 count.

XLF 60-min Chart (EOD):

Sorry, the comment form is closed at this time.

%d bloggers like this: